Onex Increases Commitment to Onex Partners IV

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2014) - All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) today announced it is increasing its commitment to Onex Partners IV to $1.7 billion from $1.2 billion. This brings the total fund size to $5.66 billion with Onex continuing to be the largest investor. The increased commitment will apply to new Onex Partners IV investments completed after June 3, 2015, and will not change Onex' ownership of businesses acquired prior to that date.

"We're pleased with our pipeline of investment opportunities and the recently announced acquisitions for Onex Partners IV," said Gerry Schwartz, Chairman and Chief Executive Officer of Onex. "We continue to believe we're better positioned than ever for continued growth. We have a stable and experienced management team with the financial resources to capitalize on any opportunity."

About Onex

With offices in Toronto, New York and London, Onex is one of the oldest and most successful private equity firms. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit Partners, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $20 billion of assets under management, including $5.9 billion of Onex capital, in private equity and credit securities. Onex invests its capital directly and as the largest limited partner in each of its Funds.

Onex' businesses had assets of $29 billion, generated annual revenues of $22 billion and employed approximately 200,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

This news release may contain forward-looking statements that are based on management's current expectations and are subject to known and unknown uncertainties and risks, which could cause actual results to differ materially from those contemplated or implied by such forward-looking statements. Onex is under no obligation to update any forward-looking statements contained herein should material facts change due to new information, future events or otherwise.